Shah Rukh Khan pitches for 'affordable' housing in Dubai

Bollywood superstar Shah Rukh Khan, the second richest actor in the world with a personal wealth of $600 million, is pitching for affordable housing in Dubai.

“It should be something belonging to the world where I belong. I am a lower middle class guy… if I wanted a house, a house to myself, what would it be like? Please try to make it affordable and try to have a kitchen as a central theme,” Khan said as he officially launched the Dh2.3-billion Royal Estates project in Dubai Investments Park.

SRK was accompanied by his interior designer wife Gauri Khan.

In fact, Gauri will be handling the home decor for some of the townhouses in this plush 2.3 million-square-foot gated community, located in Dubai Investments Park.

Property research firm Knight Frank said in June that Dubai’s property prices rose at the fastest pace in the world, with prices rising 27.7 per cent in the year to the end of March.

(Pic Tweeted by @RoyalEstatesUae)

In May, Wealth X reported Khan’s net worth being $600 million, while Hurun India Rich List put his personal assets at $400 million last year.

He denies being the second richest actor in the world, saying, “In fact, I find it very strange. I read the news on the twitter at a time when I was looking for funding for my movie.”

So will King Khan brand lead to a sell out?

The developers – Aristocratic Star, PAL Developments and Pacific Ventures –of the Royal Estate 2.3 million-square-foot gated community may be hoping a sellout; Khan himself believes the product will speak for itself.

“I will bring in the eyeballs, I will bring in the interest and I will bring in the people but the value will be brought in by the product itself,” he says.

“The product is more important than the endorsement. If I was to sit down and say if the other products I have endorsed have done well because of me I am taking away the goodness of product.

“I have never made that claim and I will never make that claim. I think this product [Royal Estates] will be one of the best. I believe in it and everyone involved in it believes it. You can’t have a product or a film for that matter where the hero is better than the film. The film has to be better than the hero. The product has to be better than the ambassador,” Khan adds.

The development consists of 400 townhouses, one commercial tower and between 800 and 900 residential apartments.

The pre-launch price for units will start from Dh840 per square foot with developers expecting the post launch prices to start from Dh1,000 per square foot.

Phase one of the project, which comprises 200 townhouses and a residential tower of nearly 200 units, will be delivered during the first quarter of 2016.

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